Ondas Fortifies Defense Portfolio
Ondas Expands Defense Portfolio with $875.8 Million DZYNE Technologies Acquisition, Elevating 2026 Outlook
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Key Points
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Six-month lock-up applies to a substantial portion of the stock consideration in the DZYNE deal. Article 1 notes 'greater than 50% of the stock consideration is subject to a six-month lock-up,' while Article 2 specifies that about 45 million of the roughly 85 million Ondas shares will be under a six-month lock-up.
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Omnisys is part of the updated guidance, with the 2026 revenue outlook raised to at least $525 million and includes contributions from both DZYNE and Omnisys; the outlook excludes any impact from Cyberhawk.
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DZYNE’s portfolio includes Dronebuster, a man-portable counter-UAS, and IonStrike, an interceptor designed to detect, track and defeat hostile drones (including Shahed-136-class threats).
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Ondas ended Q1 with about $1.48 billion in cash, restricted cash and short-term investments, highlighting the company’s liquidity position ahead of the deal.
Ondas Inc. has acquired DZYNE Technologies for $875.8 million in cash and stock, the company announced, creating a new defense division called Ondas Sentinel, according to Bloomberg Law. The deal gives DZYNE shareholders about 13.8% of Ondas, with roughly $200 million in cash and 85 million Ondas shares worth about $675 million making up the total price.
The acquisition is part of a fast-moving buying spree by Ondas, Breaking Defense reported. The company is building what it calls a leading autonomous defense platform, combining drone, counter-drone, and surveillance technologies under one roof.
What DZYNE Brings to the Table
DZYNE makes hardware used directly on today's battlefields. Its products include Dronebuster, a man-portable counter-drone tool, and IonStrike, an interceptor built to detect and destroy hostile drones. IonStrike is designed to defeat threats like the Shahed-136, a low-cost drone used widely in the Ukraine war, according to Defense Daily.
DZYNE also brings long-endurance surveillance drones and autonomous systems to the combined company. These capabilities plug into Ondas Sentinel, the new division that will house all of Ondas' U.S. defense assets. Together, the portfolio spans multi-domain intelligence, surveillance, and reconnaissance — what the defense world calls ISR.
New Leaders Step In to Run Ondas Sentinel
World View's former chief executive will lead the new Ondas Sentinel division. DZYNE co-founder Matt McCue will serve as Chief Technology Officer. The leadership picks signal Ondas wants to run the combined business as a single, scalable platform rather than a loose collection of acquisitions.
More than 50% of the stock paid to DZYNE shareholders will be locked up for six months, Bloomberg Law noted. Specifically, about 45 million of the 85 million Ondas shares issued will carry that restriction. The lock-up aligns incentives and keeps sellers invested in the combined company's long-term success.
Revenue Outlook Jumps to $525 Million for 2026
Ondas raised its 2026 revenue forecast to at least $525 million. That figure includes contributions from both DZYNE and Omnisys, another recent acquisition. DZYNE alone is expected to add about $191 million in 2026 and more than $300 million in 2027, according to Bloomberg Law. The outlook does not include any revenue from Cyberhawk, yet another Ondas acquisition.
The company expects EBITDA — a measure of operating profit — to turn positive in 2026. Margins should reach the mid-teens by 2027 and climb to the mid-20% range by 2028. Ondas ended the first quarter with about $1.48 billion in cash, restricted cash, and short-term investments, giving it a strong financial base to execute the deal, per Market Screener.
A String of Deals Reshapes Ondas Into a Defense Player
The DZYNE deal is not a one-off. Breaking Defense described it as the latest in an acquisition spree. Ondas has been snapping up drone, counter-drone, and autonomous technology companies to build a broad defense portfolio. Each deal adds a new capability layer to Ondas Sentinel.
The strategy targets large U.S. defense programs. By combining DZYNE's field-proven hardware with its existing assets, Ondas is positioning itself to win bigger government contracts. The company is betting that a unified platform — covering everything from drone interception to long-range surveillance — is more competitive than standalone products sold separately.
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